Americans preparing to invest in eJobs

U.S. Tiger Fund, one of the largest investment funds on the international Internet market, is preparing to sign a contract to buy 30 percent of the eJobs on-line recruiting website, market sources told Business Standard.

eJobs is one of the most popular websites in Romania and the largest recruitment site. Two businessmen, Liviu Dumitra¿cu and Daniel Tatar, each own 50 percent of the business. The sale could be worth more than 4 million euro, according to sources.
Contacted by Business Standard, eJobs officials declined to comment on the possible deal.

 However, sources told Business Standard that investment house Capital Partners is providing consultancy for the transaction and the law firm tuca, Zbarcea & Asocia¡ii is responsible for legal assistance. The two eJobs owners are also part of the Internet Corp. business, together with businessman Mihai Seceleanu, the latter company owner of the wall-street.ro, 9am.ro and kudika.ro news sites. eJobs.ro was created in 1999 by Dumitrascu and Tatar. 

The company’s net sales reached $1 million in 2006 (about €800,000) and its management forecasts sales to more than double, to €2 million. According to the company’s data, its operational profit is about 50 percent of net sales. The on-line recruitment market was estimated at some €5 million in 2006, according to companies in the field. eJobs’ main competitor is currently BestJobs.ro, owned by Neogen group.